Highwoods Properties (NYSE:HIW) Downgraded to "Hold" Rating by Truist Financial

Highwoods Properties (NYSE:HIW - Get Free Report) was downgraded by Truist Financial from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $32.00 price objective on the real estate investment trust's stock. Truist Financial's price target would indicate a potential upside of 2.89% from the company's current price.

Several other research firms have also recently weighed in on HIW. Jefferies Financial Group assumed coverage on Highwoods Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.00 price objective for the company. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $31.83.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded down $0.16 on Wednesday, reaching $31.10. The stock had a trading volume of 903,817 shares, compared to its average volume of 932,262. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. The business's 50-day moving average price is $30.14 and its two-hundred day moving average price is $29.39. The stock has a market cap of $3.35 billion, a P/E ratio of 19.32 and a beta of 1.21. Highwoods Properties has a fifty-two week low of $24.19 and a fifty-two week high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Highwoods Properties had a return on equity of 7.43% and a net margin of 21.53%. The business had revenue of $200.38 million during the quarter, compared to analysts' expectations of $201.31 million. During the same quarter in the previous year, the firm earned $0.89 EPS. The firm's revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Highwoods Properties will post 3.36 EPS for the current year.

Hedge Funds Weigh In On Highwoods Properties

A number of hedge funds have recently made changes to their positions in HIW. Jones Financial Companies Lllp boosted its position in shares of Highwoods Properties by 375.0% during the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 675 shares in the last quarter. POM Investment Strategies LLC bought a new position in Highwoods Properties during the first quarter worth about $28,000. Avalon Trust Co bought a new position in Highwoods Properties during the first quarter worth about $35,000. Geneos Wealth Management Inc. boosted its holdings in Highwoods Properties by 292.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,252 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Highwoods Properties during the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 96.31% of the company's stock.

About Highwoods Properties

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded NYSE: HIW, fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.